KARACHI, November 4, 2026: Cherat Cement Company Limited has signed agreements to acquire a 64.07% stake in Nimir Industrial Chemicals Limited (NICL) for approximately Rs24.09 billion.
According to a disclosure submitted to the Pakistan Stock Exchange on November 2, Cherat Cement entered into two share purchase agreements on October 30 to acquire approximately 70.86 million shares at Rs340 each.
The first agreement covers a 51% stake from majority shareholders, while the second covers an additional 13.07% from other shareholders.
Acquisition Subject to Approvals
The proposed transaction would give Cherat Cement majority ownership of Nimir Industrial Chemicals, a listed manufacturer and supplier of industrial chemicals.
Cherat Cement operates in Pakistan’s cement industry and also exports its products to regional markets.
The acquisition represents a significant expansion into the chemicals sector. However, completion remains subject to regulatory approvals and other conditions specified in the agreements.
The companies have not announced a final completion date.